Enphase Energy (NASDAQ:ENPH – Free Report) had its price target trimmed by TD Cowen from $313.00 to $262.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.
Other analysts have also issued reports about the company. Evercore ISI dropped their price target on Enphase Energy from $325.00 to $275.00 in a report on Wednesday, April 26th. Morgan Stanley initiated coverage on Enphase Energy in a research note on Monday, April 3rd. They set an equal weight rating and a $268.00 target price on the stock. B. Riley upgraded shares of Enphase Energy from a neutral rating to a buy rating and decreased their price objective for the stock from $247.00 to $214.00 in a report on Friday, June 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered their price objective on shares of Enphase Energy from $224.00 to $199.00 and set an overweight rating on the stock in a research report on Friday. Finally, Bank of America dropped their price objective on Enphase Energy from $169.00 to $168.00 in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $245.21.
Enphase Energy Stock Performance
Shares of Enphase Energy stock opened at $151.83 on Friday. The company has a market cap of $20.80 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.23. Enphase Energy has a 52 week low of $145.67 and a 52 week high of $339.92. The business has a 50 day moving average price of $172.78 and a 200-day moving average price of $192.32.
Insiders Place Their Bets
In other news, Director Richard Mora sold 1,500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $165.92, for a total value of $248,880.00. Following the completion of the transaction, the director now owns 3,126 shares of the company’s stock, valued at approximately $518,665.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David A. Ranhoff sold 1,791 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $175.10, for a total value of $313,604.10. Following the sale, the executive vice president now directly owns 82,644 shares of the company’s stock, valued at $14,470,964.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard Mora sold 1,500 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $165.92, for a total transaction of $248,880.00. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $518,665.92. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Institutional Investors Weigh In On Enphase Energy
A number of institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems lifted its holdings in shares of Enphase Energy by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 10,650 shares of the semiconductor company’s stock valued at $2,822,000 after acquiring an additional 47 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Enphase Energy by 3.4% in the 4th quarter. Dakota Wealth Management now owns 1,445 shares of the semiconductor company’s stock valued at $383,000 after purchasing an additional 47 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Enphase Energy by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock worth $1,603,000 after purchasing an additional 48 shares during the period. Alterity Financial Group LLC increased its position in shares of Enphase Energy by 4.6% during the 4th quarter. Alterity Financial Group LLC now owns 1,115 shares of the semiconductor company’s stock valued at $295,000 after purchasing an additional 49 shares during the last quarter. Finally, Ronald Blue Trust Inc. raised its holdings in Enphase Energy by 29.7% during the 1st quarter. Ronald Blue Trust Inc. now owns 214 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 71.94% of the company’s stock.
Enphase Energy Company Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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